Northern Trust Corp Sells 54,688 Shares of Comstock Resources, Inc. (NYSE:CRK)

Northern Trust Corp lowered its holdings in shares of Comstock Resources, Inc. (NYSE:CRK - Free Report) by 5.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 943,836 shares of the oil and gas producer's stock after selling 54,688 shares during the period. Northern Trust Corp owned about 0.32% of Comstock Resources worth $17,197,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Dimensional Fund Advisors LP boosted its stake in Comstock Resources by 1.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 13,297,863 shares of the oil and gas producer's stock worth $242,301,000 after buying an additional 227,638 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Comstock Resources by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 9,222,982 shares of the oil and gas producer's stock valued at $168,043,000 after purchasing an additional 126,380 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Comstock Resources by 6.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,505,808 shares of the oil and gas producer's stock valued at $27,436,000 after purchasing an additional 91,988 shares in the last quarter. Royce & Associates LP boosted its stake in shares of Comstock Resources by 13.0% in the 4th quarter. Royce & Associates LP now owns 779,410 shares of the oil and gas producer's stock valued at $14,201,000 after purchasing an additional 89,630 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of Comstock Resources in the 4th quarter valued at $11,891,000. Institutional investors and hedge funds own 36.13% of the company's stock.

Analyst Upgrades and Downgrades

CRK has been the topic of several recent analyst reports. StockNews.com upgraded shares of Comstock Resources to a "sell" rating in a research note on Thursday, May 8th. Mizuho boosted their target price on shares of Comstock Resources from $22.00 to $24.00 and gave the company a "neutral" rating in a research note on Tuesday, May 13th. Piper Sandler restated an "underweight" rating and issued a $12.00 target price (up previously from $6.00) on shares of Comstock Resources in a research note on Tuesday, May 13th. Williams Trading set a $13.00 target price on shares of Comstock Resources in a research note on Wednesday, March 5th. Finally, UBS Group initiated coverage on shares of Comstock Resources in a research note on Tuesday, April 22nd. They issued a "neutral" rating and a $19.00 target price on the stock. Five research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, Comstock Resources has a consensus rating of "Hold" and an average price target of $15.32.

Comstock Resources Price Performance

Shares of Comstock Resources stock traded down $0.14 during trading on Friday, reaching $24.26. The company's stock had a trading volume of 1,376,954 shares, compared to its average volume of 2,619,089. The stock has a 50-day moving average price of $19.91 and a two-hundred day moving average price of $18.12. The company has a current ratio of 0.46, a quick ratio of 0.60 and a debt-to-equity ratio of 1.27. Comstock Resources, Inc. has a one year low of $7.74 and a one year high of $24.48. The stock has a market capitalization of $7.11 billion, a P/E ratio of -31.92, a price-to-earnings-growth ratio of 1.65 and a beta of 0.14.

Comstock Resources (NYSE:CRK - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The oil and gas producer reported $0.18 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.16 by $0.02. The business had revenue of $512.85 million during the quarter, compared to analysts' expectations of $408.99 million. Comstock Resources had a negative return on equity of 3.10% and a negative net margin of 18.32%. The firm's revenue for the quarter was up 52.7% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.03) earnings per share. As a group, sell-side analysts anticipate that Comstock Resources, Inc. will post 0.54 EPS for the current fiscal year.

Comstock Resources Profile

Comstock Resources, Inc, an independent energy company, engages in the acquisition, exploration, development, and production of natural gas and oil properties in the United States. Its assets are located in the Haynesville and Bossier shales located in North Louisiana and East Texas. The company was incorporated in 1919 and is headquartered in Frisco, Texas.